$BTC Bitcoin Price Forecast: BTC Corrects as Rising Profits Counter Positive Market Sentiment
The price of Bitcoin faces a slight correction on Thursday after rising 8.55% so far this week.
Spot Bitcoin ETFs in the U.S. recorded an inflow of $916.91 million on Wednesday, marking their third consecutive day of inflows.
Risk sentiment prevails as the Trump administration softens its tone on the Federal Reserve and trade tensions with China.
The technical outlook suggests that the pullback could be mild, with a bounce towards $97,000 still in play.
Bitcoin (BTC) is facing a slight correction, trading around $92,000 at the time of writing on Thursday, after rising 8.55% so far this week. Despite the slight correction, institutional demand remained strong, as spot Bitcoin exchange-traded funds (ETFs) in the U.S. recorded an inflow of $916.91 million on Wednesday, marking three consecutive days of gains. Additionally, risk sentiment prevails as U.S. President Donald Trump's administration seems to be softening its tone on the Federal Reserve (Fed) and trade tensions with China.
The technical outlook suggests that the pullback could be mild as holders take profits, and that a bounce towards $97,000 is still in play.